{"id":1639,"date":"2022-07-29T09:09:00","date_gmt":"2022-07-29T04:39:00","guid":{"rendered":"http:\/\/k1arts.com\/?p=1639"},"modified":"2022-07-22T17:10:40","modified_gmt":"2022-07-22T12:40:40","slug":"italian-government-halts-sales-of-nfts-based-on-masterpieces-from-the-countrys-museums","status":"publish","type":"post","link":"https:\/\/k1arts.com\/?p=1639","title":{"rendered":"Italian Government Halts Sales of NFTs Based on Masterpieces from the Country\u2019s Museums"},"content":{"rendered":"<p>The Italian government has put a hold on the sale of NFTs based on classic Italian Renaissance paintings, the<em>&nbsp;Art Newspaper<\/em> reports.<\/p>\n<p>\u201cGiven that the matter is complex and unregulated, the ministry has temporarily asked its institutions to refrain from signing contracts relating to NFTs,\u201d a spokesperson for Massimo Osanna, the director general of museums in Italy, told the<em> Art Newspaper<\/em>. \u201cThe basic intention is to avoid unfair contracts.\u201d<\/p>\n<p>The decision comes after the Uffizi Galleries made a paltry profit from the sale of a Michelangelo\u2019s&nbsp;<em>Doni Tondo&nbsp;<\/em>(1505\u201306) NFT.<\/p>\n<p>The Uffizi Galleries and three other Italian museums entered into a five-year contract with an NFT production company called Cinello, one of several start-ups that is attempting to carve out a niche in providing digital ownership services for museums and cultural institutions. Cinello has made NFTs of works such as Leonardo da Vinci\u2019s <em>Portrait of a Musician <\/em>(1490) and Amedeo Modigliani\u2019s<i>&nbsp;Head of a Young Lady <\/i>(1915).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Italian government has put a hold on the sale of NFTs based on classic Italian Renaissance paintings, the&nbsp;Art Newspaper &#8230; <a class=\"cz_readmore\" href=\"https:\/\/k1arts.com\/?p=1639\"><i class=\"fa czico-107-web-link\"><\/i><span>Read More<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":1640,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93],"tags":[96,104,103,98,102,101],"class_list":["post-1639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-k1arts","tag-nftcollector","tag-nftcommunity","tag-nftgallery","tag-thefuture","tag-tokens"],"_links":{"self":[{"href":"https:\/\/k1arts.com\/index.php?rest_route=\/wp\/v2\/posts\/1639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/k1arts.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/k1arts.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/k1arts.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/k1arts.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1639"}],"version-history":[{"count":3,"href":"https:\/\/k1arts.com\/index.php?rest_route=\/wp\/v2\/posts\/1639\/revisions"}],"predecessor-version":[{"id":1643,"href":"https:\/\/k1arts.com\/index.php?rest_route=\/wp\/v2\/posts\/1639\/revisions\/1643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/k1arts.com\/index.php?rest_route=\/wp\/v2\/media\/1640"}],"wp:attachment":[{"href":"https:\/\/k1arts.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/k1arts.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/k1arts.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}